Top 5 Growth Strategies in the Environment, Health, and Safety Market: Forecast 2023–2033
Top 5 Growth Strategies in the Environment, Health, and Safety Market: Forecast 2023–2033
According to a research report published by Spherical Insights & Consulting, The Global Environment, Health, and Safety Market Size is Expected to Grow from USD 6.97 Billion in 2023 to USD 14.10 Billion by 2033, at a CAGR of 7.3% during the forecast period 2023-2033.
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Environmental, health, and safety management (EHSM) is a company’s strategy to enhance its EHS performance, focusing on processes that ensure the safety of people and their surroundings, thereby enhancing overall safety. Any business’s operations must include EHS management to meet and maintain the organization’s environmental goals effectively. EHS is a regulatory framework that attempts to minimize workplace accidents, health problems, and environmental degradation by work activities to lessen the influence on the environment, boost employee safety, and increase employee retention. It emphasizes maintaining safe working conditions for both workers and the environment, as well as following a company’s production standards. It is anticipated that the capacity of environmental health and safety software and services to assist companies in effectively managing trash will propel market expansion. It is anticipated that mobile applications will become more and more popular. Demand for environmental protection and occupational health and safety services has surged due to stringent laws, as well as heightened awareness of environmental health and safety. Policies have been put in place by the Indian government to control economic activity and provide secure and healthy working environments. This involves actions to control occupational health and safety hazards and encourage a preventative mindset. However, the high costs, installation and purchase challenges, and expensive subscription and installation fees of EHS software make low-income enterprises reluctant to use it, which could impede market expansion.
Browse key industry insights spread across 235 pages with 105 Market data tables and figures & charts from the report on the Global Environment, Health, and Safety Market Size, Share, and COVID-19 Impact Analysis, By Component (Software and Services), By Deployment Mode (Cloud and On-premise), By Application (Medical and Pharmaceutical Waste Management, Industrial Waste Management, Wastewater Management, and Others), By End User (Chemicals and Petrochemicals, Energy and Mining, Healthcare, and Telecom & IT), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
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The services segment is predicted to hold the fastest market share through the forecast period.
Based on the component, the environment, health, and safety market is classified into software and services. Among these, the services segment is predicted to hold the fastest market share through the forecast period. Analytics services, audit assessments, regulatory compliance, project deployment, certification, training, and support are expected to grow rapidly, assisting companies in gathering and evaluating data to boost profit margins.
The cloud segment is anticipated to hold the highest market share during the projected timeframe.
Based on the deployment mode, the environment, health, and safety market is divided into cloud and on-premise. Among these, the cloud segment is anticipated to hold the highest market share during the projected timeframe. This is due to its low cost and simplicity of use; the cloud market is anticipated to grow in popularity among both major enterprises and SMEs. Vendor support and maintenance will also make SMEs favor cloud-based solutions over on-premises ones.
The industrial waste management segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the environment, health, and safety market is divided into medical and pharmaceutical waste management, industrial waste management, wastewater management, and others. Among these, the industrial waste management segment is anticipated to hold the highest market share during the projected timeframe. Increased pressure on enterprises to cut waste and improve efficiency, especially in the area of industrial waste management, is predicted to drive up demand for Environmental Health and Safety (EHS) services.
The energy and mining segment is predicted to hold the fastest market share through the forecast period.
Based on the end user, the environment, health, and safety market is classified into chemicals and petrochemicals, energy and mining, healthcare, and telecom & IT. Among these, the energy and mining segment is predicted to hold the fastest market share through the forecast period. Market participants offer EHS services for employee safety, adhering to OSHA regulations for electronic record-keeping. Increased worker safety laws in mining and energy industries drive market expansion.
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North America is estimated to hold the largest share of the environment, health, and safety market over the forecast period.
North America is estimated to hold the largest share of the environment, health, and safety market over the forecast period. The stable and established economies of the United States and Canada enable them to make significant investments in research and development (R&D) activities that aid in the creation of new technology. The EHS market is expanding quickly, largely due to the stringent laws and regulations that the US and Canadian governments implement. Developing and executing safety programs to guarantee the safety and well-being of federal, state, and municipal occupational safety and health and environmental standards is the responsibility of the US EHS department.
Europe is predicted to have the fastest CAGR growth in the environment, health, and safety market over the forecast period. The European market is rapidly adopting EHS services and software to phase out the take-make-dispose model, maximize raw materials, and reduce waste production. EU-OSHA and EEA’s stringent environmental regulations are expected to drive demand for EHS software and services.
Major key players in the environment, health, and safety market include AECOM, Jacobs, Intelex Technologies, Enablon, Tetra Tech, Inc., SAP SE, Golder Associates, SGS SA., ERM Group, Inc., VelocityEHS, John Wood Group PLC, RPS Group, ETQ, and Others.
Recent Development
- In August 2022, VelocityEHS acquired a sizeable minority share from Partners Group. This will strengthen VelocityEHS’s position as the industry leader in EHS and ESG software and support its expansion.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the environment, health, and safety market based on the below-mentioned segments:
Global Environment, Health, and Safety Market, By Component
- Software
- Services
Global Environment, Health, and Safety Market, By Deployment Mode
- Cloud
- On-premise
Global Environment, Health, and Safety Market, By Application
- Medical and Pharmaceutical Waste Management
- Industrial Waste Management
- Wastewater Management
- Others
Global Environment, Health, and Safety Market, By End User
- Chemicals and Petrochemicals
- Energy and Mining
- Healthcare
- Telecom and IT
- Others
Global Environment, Health, and Safety Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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